About the Index
(1) Taxable Bond Funds groupings according to CEFdata.com. (2) US & Non US Bond Exposure over 80%. (3) 90-day average trade dollar $ liquidity over $200K. (4) Investment grade bond exposure over 60%. (4) Less than 20% Non Rated bonds (5) Adding funds classified as Taxable Municipal Bond Funds on CEFdata.com. Equal weight each fund for the index. The index constituents will be rebalanced each quarter.
Index Performance
Current($) | Previous Day(%) | 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 10 Year(%) | MTD(%) | QTD(%) | YTD(%) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,379.17 | 0.43 | 0.27 | -0.82 | 3.52 | 9.85 | 17.69 | -2.13 | 1.43 | 4.17 | 0.27 | -2.15 | 10.89 | ||||||
NAV | 1,286.46 | 0.71 | 0.48 | -0.94 | 1.17 | 5.03 | 12.83 | -2.24 | 1.19 | 3.08 | 0.48 | -1.96 | 5.36 | ||||||
Difference | 0.28 | 0.22 | -0.13 | -2.35 | -4.82 | -4.86 | -0.11 | -0.25 | -1.10 | 0.22 | 0.19 | -5.53 | |||||||
* Periods greater than 1 Year are annualized. ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $999.83 |
2024 - Monthly Performance (%) | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2024 | |
Price | 1.76 | -0.86 | 1.31 | 2.21 | -2.88 | 2.87 | 1.11 | 1.02 | 3.25 | 3.75 | 2.49 | 3.22 | 9.75 | -2.41 | - | - | - | - | - |
NAV | 0.32 | -0.73 | 1.09 | 0.67 | -2.38 | 2.16 | 0.40 | 0.12 | 0.80 | 2.52 | 1.81 | 2.14 | 6.62 | -2.43 | - | - | - | - | - |
Difference | -1.45 | 0.14 | -0.23 | -1.54 | 0.50 | -0.72 | -0.71 | -0.90 | -2.46 | -1.23 | -0.68 | -1.07 | -3.13 | -0.02 | - | - | - | - | - |
2023 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2023 | |
Price | 7.84 | -3.02 | -1.13 | 3.40 | 1.44 | -1.36 | 1.33 | 1.39 | 4.84 | 2.80 | -1.86 | -3.72 | -2.86 | -2.44 | 7.47 | 4.12 | 9.17 | 6.05 | 11.18 |
NAV | 4.47 | -2.47 | 0.98 | 2.88 | 0.85 | -1.19 | 0.74 | 0.39 | 3.29 | 0.97 | -1.15 | -3.14 | -3.33 | -2.12 | 6.07 | 4.18 | 8.16 | 4.56 | 8.00 |
Difference | -3.37 | 0.54 | 2.11 | -0.52 | -0.59 | 0.17 | -0.58 | -1.00 | -1.55 | -1.83 | 0.71 | 0.57 | -0.47 | 0.32 | -1.40 | 0.06 | -1.01 | -1.48 | -3.18 |
2022 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2022 | |
Price | -6.09 | -4.25 | -2.12 | -11.99 | -5.50 | -0.07 | -4.34 | -9.67 | -20.50 | 4.88 | -1.86 | -10.05 | -7.43 | 1.66 | 6.38 | -2.64 | 5.30 | -2.52 | -22.50 |
NAV | -2.34 | -2.52 | -2.76 | -7.43 | -4.40 | -0.37 | -4.74 | -9.27 | -16.01 | 3.58 | -2.23 | -5.85 | -4.64 | -0.46 | 4.56 | -0.58 | 3.47 | -1.34 | -17.13 |
Difference | 3.75 | 1.74 | -0.64 | 4.56 | 1.10 | -0.30 | -0.40 | 0.40 | 4.49 | -1.29 | -0.36 | 4.21 | 2.78 | -2.13 | -1.82 | 2.06 | -1.83 | 1.19 | 5.37 |
2021 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2021 | |
Price | -0.19 | 0.06 | 1.30 | 1.17 | 2.20 | 1.89 | 1.31 | 5.50 | 6.73 | 0.93 | 0.15 | -2.69 | -1.65 | 0.66 | -1.45 | 0.43 | -0.38 | -2.02 | 4.57 |
NAV | 0.19 | -0.45 | -0.53 | -0.79 | 1.65 | 0.84 | 0.96 | 3.50 | 2.68 | 0.86 | 0.47 | -0.96 | 0.37 | -0.42 | -0.69 | 0.82 | -0.30 | 0.06 | 2.75 |
Difference | 0.38 | -0.51 | -1.82 | -1.95 | -0.54 | -1.05 | -0.35 | -2.00 | -4.04 | -0.07 | 0.32 | 1.74 | 2.01 | -1.08 | 0.76 | 0.39 | 0.08 | 2.08 | -1.82 |
2020 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2020 | |
Price | 2.13 | -5.14 | -13.53 | -16.23 | 5.87 | 4.66 | 1.45 | 12.41 | -5.84 | 4.59 | -0.28 | -1.69 | 2.53 | -0.71 | 7.12 | 2.77 | 9.30 | 12.07 | 5.53 |
NAV | 1.78 | -0.01 | -13.10 | -11.57 | 4.38 | 2.93 | 2.25 | 9.86 | -2.85 | 3.31 | 0.50 | -0.69 | 3.11 | 0.26 | 4.60 | 2.17 | 7.15 | 10.48 | 7.33 |
Difference | -0.35 | 5.13 | 0.43 | 4.67 | -1.49 | -1.73 | 0.80 | -2.56 | 2.99 | -1.28 | 0.79 | 1.00 | 0.58 | 0.98 | -2.52 | -0.60 | -2.15 | -1.59 | 1.81 |
2019 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2019 | |
Price | 6.42 | 1.60 | 1.77 | 10.04 | 0.35 | 0.56 | 3.09 | 4.04 | 14.49 | 1.99 | -0.17 | 0.87 | 2.69 | 1.32 | 0.42 | 2.10 | 3.88 | 6.67 | 22.13 |
NAV | 3.60 | 0.75 | 1.38 | 5.82 | 0.85 | 0.91 | 2.56 | 4.38 | 10.45 | 0.88 | 0.64 | -0.15 | 1.38 | 0.79 | 0.06 | 1.46 | 2.31 | 3.73 | 14.57 |
Difference | -2.82 | -0.86 | -0.39 | -4.23 | 0.50 | 0.35 | -0.53 | 0.35 | -4.03 | -1.10 | 0.82 | -1.01 | -1.31 | -0.53 | -0.36 | -0.64 | -1.57 | -2.95 | -7.55 |
2018 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2018 | |
Price | -0.07 | -1.09 | 0.44 | -0.73 | -0.06 | -0.20 | 0.01 | -0.25 | -0.97 | 1.74 | 0.44 | -0.75 | 1.42 | -4.22 | 0.47 | -0.18 | -3.93 | -2.57 | -3.51 |
NAV | 0.67 | -1.05 | 0.18 | -0.21 | -0.54 | -0.33 | -0.76 | -1.62 | -1.83 | 1.30 | -0.59 | 0.36 | 1.06 | -1.59 | -0.22 | 0.08 | -1.73 | -0.69 | -2.51 |
Difference | 0.74 | 0.03 | -0.26 | 0.51 | -0.48 | -0.14 | -0.76 | -1.38 | -0.86 | -0.44 | -1.03 | 1.11 | -0.36 | 2.63 | -0.69 | 0.25 | 2.20 | 1.87 | 1.00 |
2017 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2017 | |
Price | 2.63 | 1.79 | -0.30 | 4.16 | 1.99 | 1.51 | 0.93 | 4.49 | 8.83 | 2.12 | 0.27 | 0.26 | 2.66 | -0.10 | -1.61 | 1.42 | -0.32 | 2.34 | 11.37 |
NAV | 1.68 | 1.56 | 0.15 | 3.42 | 1.37 | 1.31 | 0.53 | 3.24 | 6.78 | 1.33 | 1.06 | -0.04 | 2.36 | 0.45 | 0.23 | 0.66 | 1.34 | 3.74 | 10.77 |
Difference | -0.95 | -0.23 | 0.44 | -0.74 | -0.62 | -0.19 | -0.41 | -1.25 | -2.06 | -0.79 | 0.79 | -0.30 | -0.30 | 0.55 | 1.84 | -0.76 | 1.66 | 1.40 | -0.61 |
2016 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2016 | |
Price | 0.37 | 0.70 | 6.06 | 7.20 | 2.29 | 0.28 | 3.02 | 5.67 | 13.29 | 3.06 | 1.48 | -0.65 | 3.90 | -2.72 | -3.16 | 1.98 | -3.93 | -0.18 | 13.09 |
NAV | -0.06 | -0.03 | 3.16 | 3.08 | 2.17 | -0.06 | 2.21 | 4.36 | 7.57 | 2.26 | 0.70 | 0.45 | 3.43 | -0.30 | -2.90 | 0.95 | -2.27 | 1.09 | 8.74 |
Difference | -0.43 | -0.73 | -2.90 | -4.13 | -0.12 | -0.35 | -0.81 | -1.32 | -5.72 | -0.80 | -0.78 | 1.10 | -0.47 | 2.42 | 0.26 | -1.03 | 1.66 | 1.26 | -4.35 |
2015 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2015 | |
Price | 2.92 | -0.19 | -1.07 | 1.63 | 1.35 | -1.61 | -3.87 | -4.13 | -2.57 | -1.08 | -1.83 | -0.61 | -3.48 | 5.21 | -0.80 | -1.16 | 3.16 | -0.43 | -2.99 |
NAV | 1.38 | 0.10 | -0.20 | 1.28 | 0.74 | -0.58 | -1.41 | -1.25 | 0.01 | -0.27 | -1.31 | -0.95 | -2.51 | 1.80 | -0.09 | -1.56 | 0.13 | -2.39 | -2.38 |
Difference | -1.54 | 0.29 | 0.87 | -0.35 | -0.61 | 1.02 | 2.46 | 2.88 | 2.58 | 0.81 | 0.52 | -0.34 | 0.97 | -3.40 | 0.71 | -0.40 | -3.03 | -1.95 | 0.62 |
2014 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2014 | |
Price | 2.29 | 2.52 | 0.30 | 5.17 | 2.46 | 2.06 | 1.35 | 5.99 | 11.47 | -2.07 | 1.97 | -3.24 | -3.38 | 1.42 | 0.61 | -1.68 | 0.34 | -3.05 | 8.07 |
NAV | 2.09 | 1.58 | 0.67 | 4.39 | 1.51 | 1.97 | 0.70 | 4.23 | 8.81 | -0.11 | 1.41 | -1.99 | -0.71 | 1.00 | 0.21 | -1.47 | -0.28 | -0.99 | 7.73 |
Difference | -0.20 | -0.94 | 0.37 | -0.78 | -0.95 | -0.10 | -0.65 | -1.76 | -2.66 | 1.96 | -0.56 | 1.25 | 2.67 | -0.42 | -0.41 | 0.20 | -0.62 | 2.06 | -0.34 |
2013 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2013 | |
Price | 1.92 | 0.20 | -0.35 | 1.76 | 2.22 | -6.25 | -3.71 | -7.72 | -6.10 | -1.69 | -2.36 | 1.93 | -2.16 | 2.87 | -2.44 | 0.52 | 0.88 | -1.29 | -7.31 |
NAV | 0.56 | 0.77 | 0.38 | 1.72 | 1.97 | -2.56 | -3.84 | -4.45 | -2.81 | 0.60 | -1.33 | 1.61 | 0.85 | 1.68 | -0.48 | -0.71 | 0.48 | 1.34 | -1.51 |
Difference | -1.36 | 0.57 | 0.73 | -0.04 | -0.25 | 3.68 | -0.12 | 3.27 | 3.29 | 2.29 | 1.03 | -0.33 | 3.01 | -1.18 | 1.96 | -1.23 | -0.40 | 2.63 | 5.81 |
2012 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2012 | |
Price | 3.41 | 1.80 | -1.75 | 3.43 | 2.02 | 0.23 | 1.68 | 3.98 | 7.54 | 3.74 | 1.30 | 1.33 | 6.50 | -1.35 | 0.11 | -0.60 | -1.83 | 4.55 | 12.44 |
NAV | 3.25 | 1.75 | -0.23 | 4.81 | 1.58 | -0.32 | 1.10 | 2.36 | 7.28 | 2.91 | 0.89 | 1.35 | 5.23 | 1.09 | 0.77 | 0.32 | 2.20 | 7.55 | 15.38 |
Difference | -0.16 | -0.06 | 1.52 | 1.38 | -0.45 | -0.55 | -0.58 | -1.62 | -0.26 | -0.83 | -0.41 | 0.02 | -1.26 | 2.44 | 0.66 | 0.92 | 4.03 | 3.00 | 2.95 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount 2.45% |
1Yr Disc -1.86% |
3Yr Disc -3.62% |
5Yr Disc -3.02% |
Rel Disc Range (3yr) 62.93% |
Mkt Yield 7.60% |
Lev Adj NAV Yield 6.43% |
After Tax Yield* 6.14% |
Est Tax Friction* 1.46% |
3Yr NAV Volatiliy 8.63 |
1 Yr RoC 34.30% |
3 Yr Dest RoC 35.06% |
Leverage 21.08% |
Non Lev Exp Ratio 0.89% |
Beta (2yr) 0.97 |
Equity Exposure 1.46% |
Bond Exposure 96.25% |
# Holdings 15 |
Cash Weighted Duration 6.70 |
|
Comp NAV TR -1.43% |
Comp Discount 1.92% |
Net Assets (M) 377 |
Liquidity - 90d (K) 1,194 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
15 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
BHK | BR Core Bnd Tr | BlackRock | 6.57 | 8.88 | 7.76 | 36.80 | 33.96 | 573 | 1,617 |
BKT | BR Incm Tr | BlackRock | 6.58 | -1.57 | 8.89 | 58.19 | 20.96 | 258 | 717 |
FAX | abrdn Asia-Pacific Incm Fd | abrdn | 6.68 | -4.52 | 11.72 | 35.41 | 36.83 | 731 | 2,270 |
MGF | MFS Govt Mkt Incm Tr | MFS | 6.59 | -2.15 | 7.51 | 46.98 | 0.00 | 106 | 200 |
MIN | MFS Imd Incm Tr | MFS | 6.89 | -2.85 | 8.83 | 56.56 | 0.00 | 320 | 483 |
PAI | WA Inv Grd Incm Fd | Franklin Templeton | 6.83 | -2.74 | 4.83 | 0.00 | 0.00 | 125 | 240 |
RCS | PIMCO Stgc Incm Fd | PIMCO | 6.94 | 71.78 | 7.92 | 6.39 | 35.98 | 208 | 1,230 |
TSI | TCW Stgc Incm Fd | TCW | 6.75 | -3.83 | 4.78 | 0.00 | 0.00 | 249 | 420 |
VBF | Invsc Bnd Fd | Invesco | 6.53 | -1.52 | 5.47 | 0.00 | 0.00 | 188 | 482 |
WEA | WA Prmr Bnd Fd | Franklin Templeton | 6.81 | -1.85 | 7.54 | 0.00 | 32.56 | 135 | 328 |
WIA | WA Inf-Lnk Incm Fd | Franklin Templeton | 6.64 | -10.29 | 7.25 | 0.00 | 33.49 | 215 | 354 |
WIW | WA Inf-Lnk Opp & Incm Fd | Franklin Templeton | 6.78 | -11.46 | 8.32 | 0.00 | 29.78 | 603 | 2,029 |
BBN | BR Taxable Muni BndTr | BlackRock | 6.41 | -4.96 | 6.69 | 19.77 | 32.43 | 1,084 | 4,748 |
GBAB | Gghm Taxable Muni Bnd & Inv Grd Dbt | Guggenheim Funds | 6.32 | 4.05 | 9.32 | 44.42 | 20.66 | 411 | 1,505 |
NBB | Nuv Taxable Muni Incm Fd | Nuveen | 6.70 | -2.65 | 7.17 | 5.15 | 39.91 | 487 | 1,509 |